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Company News

PRESS DIGEST- Financial Times - July 10

July 10 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

UK and Australian regulators launch probe into Clearview AI on.ft.com/3gIDbwr

Ofgem proposes cutting energy companies' returns by half on.ft.com/3ff9djB

Boots and John Lewis to cut 5,300 jobs and shut stores on.ft.com/2ZSPHTr

Overview

Britain’s data watchdog and its Australian counterpart said on Thursday that they have launched a joint probe into controversial facial recognition company Clearview AI, whose image-scraping tool has been used by hundreds of police forces around the world.

British energy regulator Ofgem has been warned it faces a “huge fight” after proposing to halve returns large companies such as National Grid and SSE are allowed to make in exchange for managing the country’s electricity and gas networks.

Health and beauty chain Boots and department store John Lewis announced more than 5,000 job cuts on Thursday and a fresh round of store closures, as the coronavirus crisis continued to batter the UK high street and other sectors of the economy.

Compiled by Bengaluru newsroom

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